0950 GMT - Greek banking stocks still trade cheaply despite an around 50% jump in share prices since the start of the year, Bank of America Global Research says in a note. "We think the re-rating story of Greek banks has further legs to go as they still look cheap after the recent [return on tangible equity] improvements," analyst Ilija Novosselsky writes. This should be driven by an inflection in net interest income followed by growth, fee catch-up and M&A transactions in asset management and insurance. Lower cost of risk and a lift in payouts should also contribute, he adds. BofA raises National Bank of Greece to neutral from underperform and has a buy rating on Eurobank, Alpha and Piraeus. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

June 27, 2025 05:50 ET (09:50 GMT)

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